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Seeking Alpha 2021-04-26 11:36:59

Bitcoin bounces higher as JPMorgan warms; Ethereum eyes new record

At its low of $47K late on Sunday, bitcoin (BTC-USD) was off about 27% from its all-time high of $65K hit 10 days earlier. The popular crypto has been in bounce mode since, trading hands at $53.5K at pixel time.Continuing its divergence with bitcoin, ether (ETH-USD) was in modest rally mode for most of the weekend, and at the current $2,516 is within $100 of its record high.Away from discussion about price, institutional adoption of bitcoin continues to grow. Probably as hostile to cryptocurrency as any shop on the Street, JPMorgan is reportedly preparing to offer an actively-managed bitcoin fund to certain of its private wealth clients. NYDIG - which counts a number of large insurance companies as clients - will handle custody services for The Bank of Dimon (JPM).

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